BUSINESS
IL&FS realises Rs 33 cr by selling its vehicles, furniture
IL&FS Group had identified a total of 38 luxury vehicles within the group, which had a purchase price value of Rs 25 lakh and above. Out of the identified vehicles, 34 vehicles were sold and 2 others were surrendered to the leasing company. The sale was conducted via public auction and an amount of Rs 7.33 crore was realized, said a company spokesperson.
'Low natural gas prices key to India's 15% fuel share ambition'
If prices of natural gas remain high or increase further, the study projects that its fuel share would rise from the current 6.3 per cent to only 6.4 per cent by 2030, and to 12 per cent by 2050. The findings are significant given the recent rise in global gas prices, although long-term prices have been on the decline, due to the discovery of significant shale gas reserves and lower gas production technology costs for the US shale gas supply.
IOB closes Q1 with Rs 327 crore net profit
For the first quarter of the current fiscal, the IOB had posted a net profit of about Rs 327 crore as against about Rs 121 crore logged during the corresponding quarter the previous year, he told reporters. For the period under review, the IOB had posted a total income of about Rs 5,155 crore, down from about Rs 5,233 crore earned during the same quarter previous fiscal.
Hiring in India 42% above pre-Covid levels: LinkedIn
There was a deep hiring dip in April 2021, corresponding to a second wave of Covid-19 cases in India. Since then, it has been recovering steadily -- compared to the pre-Covid levels in 2019, it was 35 per cent higher at the end of May 2021, and 42 per cent higher at the end of June 2021. This is possibly due to a release of pent-up hiring (which accumulated in 2020 as companies took a more cautious stance towards hiring.
BSNL merger or Satyam type fire sale; What next for Vodafone Idea
The Modi government where the matter now rests will have to now take a tough call on a possible merger with BSNL which is already in financial problems or do a fire sale a la Satyam as Birla has already offered his equity but that is a long drawn out process. The issue which is not clear is the Vodafone stance on Birla offering his equity as the other big stakeholder is Vodafone.
Adani Ports achieves highest ever quarterly volume growth of 83%
Its consolidated revenue also grew to Rs 4,557 crore as compared to Rs 2,293 crore in the same period of previous year, registering a growth of 99 per cent. "The results are a validation of the strong fundamentals of the APSEZ strategy leading to a continued gain of market share as the company transforms into a full-fledged pan-India Ports & Logistics platform," Karan Adani, Chief Executive Officer.
PM Modi launches digital payment system e-RUPI: 10 Key benefits
The prime minister called it a "revolutionary step" in the direction of guaranteeing leak-proof delivery of social services. Government and commercial enterprises may utilise the new digital payment system (e-voucher) to offer particular advantages such as immunizations to those in need. This platform, in addition to regular payments, can also be utilised to provide services under other government programmes.
IMF approves largest SDR allocation in history
"This is a historic decision, the largest SDR allocation in the history of the IMF and a shot in the arm for the global economy at a time of unprecedented crisis," Xinhua news agency quoted IMF Managing Director Kristalina Georgieva as saying on Monday. Noting that the SDR allocation will benefit all IMF members, address the long-term global need for reserves.
IMAC announces closing of $200 mn IPO
The units were sold at a price of $10 per unit, resulting in total gross proceeds of $200 million, prior to deducting underwriting discounts, commissions, and other offering expenses. Each unit consists of one share of common stock, one right to receive one-twentieth of a share of common stock upon the consummation of an initial business combination, and one redeemable warrant to purchase three-fourths of a share of common stock at a price of $11.50 per whole share.
Faster economic rebound lift equities, Nfty crosses 16k mark
Notably, the Nifty has breached the all-time high of 16,000. Besides, healthy macro-economic data as well as better-than-expected quarterly results boosted investors' sentiments. Segment wise, FMCG, Consumer Durables and Telecom shares saw healthy demand. Consequently, the S&P BSE Sensex hit a record level of 53,478.57 points and the Nifty50 touched a new high of 16,025 points.
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